Connect with us


Atedo Peterside echoes Gov El’Rufai, says NNPC is Nigeria’s biggest problem



Atedo Peterside, entrepreneur and founder of Stanbic IBTC Bank Plc, on Wednesday, criticized NNPC Limited for continuing to “waste” money on CNN advertisements.

In response to a report, Peterside stated that he concurred with Kaduna State Governor Nasir El-Rufai regarding the NNPC’s poor condition and pointed out that despite the company’s recent privatization, its commercial operations remained the same.

“I couldn’t agree more with El-Rufai. Little or nothing has changed at NNPC Limited. They should stop wasting our money on CNN adverts in which they praise themselves unconvincingly. If they did anything good, their good works will speak for them,” Peterside noted in the statement.

READ ALSO:BUSINESS ROUNDUP: NNPC spends N13bn on entertainment; UK payment firm suspends USD transfers to Nigeria; other stories

In August 2022, Peterside had challenged the NNPC to clarify allegations that it dipped its fingers in the federation account in order to announce a profit of N287bn.

Peterside, in a tweet, said, “There is an allegation that NNPC dipped their fingers in the Federation Cookie Jar in order to announce bumper 2020 profits; they should come clean and publish details of all dividends received by them and tell us which ones they recently diverted from the Federation to themselves.”

El-Rufai, on Friday, as part of activities lined up for the 7th edition of KADINVEST, an annual event organised by the Kaduna State Investment Promotion Agency, said that the Federal Government had failed in the oil and gas business and should “get out” of the sector. He noted that NNPCL was Nigeria’s biggest problem.

The Governor said that after the Nigerian National Petroleum Company’s commercialization in July 2022, “nothing has changed.”

Even though NNPC Limited’s Group Chief Executive Officer, Mele Kyari, was doing his best, according to him, the company had failed and had no business operating in the industry.

Join the conversation


Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now